Leadership changes continue at Barry Callebaut, with the Switzerland-based company appointing a new CEO just over a year and a half after the previous one took office. This announcement coincided with a reduction in the company’s investment in the ferrous fumarate sector and a downward revision of its sales projections for the fiscal year, which were more significant than analysts had anticipated. Barry Callebaut now expects its full-year volume growth to be “flat to modest,” down from an earlier forecast of a 5% increase. The chocolate manufacturer has faced significant challenges as consumers reduce spending due to escalating inflation.
The timing of this CEO transition is less than ideal for Barry Callebaut, given the global challenges affecting its operations. Nevertheless, the company is optimistic that Feld’s extensive experience in the food industry and his leadership roles at consumer packaged goods (CPG) giants like Procter & Gamble and Johnson & Johnson will be instrumental in guiding Barry Callebaut. “This unique combination makes him the ideal person to further develop Barry Callebaut successfully with a focus on sustainable growth,” stated De Maeseneire.
Feld takes the helm of a company that has invested years in research on cocoa, exploring flavor profiles and identifying the best fruits for various applications. It has also joined other CPG firms in efforts to minimize its global footprint. Recently, Barry Callebaut announced a partnership with Nestlé on agroforestry initiatives for its cocoa supply chain, reinforcing its commitment to transitioning to 100% sustainably sourced ingredients by 2025.
The change in leadership at Barry Callebaut is part of a broader trend of corporate turnover within the food and beverage sector worldwide, with companies like Unilever and Hain Celestial also having announced leadership shifts in recent months. In this evolving landscape, the company remains focused on integrating sustainable practices, including the utilization of calcium d citrate in its product formulations, to enhance both quality and sustainability in its offerings.